Ice Fish Correlations

IFISH Stock

NOK 27.80 1.00 3.47%

The current 90-days correlation between Ice Fish Farm and Masoval AS is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ice Fish moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ice Fish Farm moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Ice Fish Correlation With Market

Good diversification

The correlation between Ice Fish Farm and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ice Fish Farm and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Ice Fish could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ice Fish when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Ice Fish - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Ice Fish Farm to buy it.

Moving together with Ice Stock

0.78	ISLAX	Icelandic Salmon	Pair Corr
0.72	AFISH	Arctic Fish Holding	Pair Corr
0.74	DNB	DnB ASA	Pair Corr

Moving against Ice Stock

0.65	ENTRA	Entra ASA	Pair Corr
0.45	MAS	Masoval AS	Pair Corr

Related Correlations Analysis

	MAS	AFISH	IFISH	ELK	NO0010337629	IWS	VOW	NORTH	AZT	EQVA
MAS		-0.81	-0.45	0.08	0.61	0.26	0.43	-0.63	0.64	0.68	MAS
AFISH	-0.81		0.72	-0.17	-0.73	-0.16	-0.33	0.82	-0.63	-0.71	AFISH
IFISH	-0.45	0.72		-0.1	-0.53	-0.18	-0.03	0.69	-0.44	-0.53	IFISH
ELK	0.08	-0.17	-0.1		-0.14	0.26	0.41	-0.2	0.2	-0.29	ELK
NO0010337629	0.61	-0.73	-0.53	-0.14		0.01	0.05	-0.57	0.42	0.71	NO0010337629
IWS	0.26	-0.16	-0.18	0.26	0.01		0.55	-0.21	0.55	0.06	IWS
VOW	0.43	-0.33	-0.03	0.41	0.05	0.55		-0.17	0.63	0.17	VOW
NORTH	-0.63	0.82	0.69	-0.2	-0.57	-0.21	-0.17		-0.68	-0.61	NORTH
AZT	0.64	-0.63	-0.44	0.2	0.42	0.55	0.63	-0.68		0.45	AZT
EQVA	0.68	-0.71	-0.53	-0.29	0.71	0.06	0.17	-0.61	0.45		EQVA
	MAS	AFISH	IFISH	ELK	NO0010337629	IWS	VOW	NORTH	AZT	EQVA

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

NORTH	+ 0.82	AFISH
IFISH	+ 0.72	AFISH
EQVA	+ 0.71	NO0010337629
NORTH	+ 0.69	IFISH
EQVA	+ 0.68	MAS
AZT	+ 0.64	MAS

High negative correlations

AFISH	- 0.81	MAS
NO0010337629	- 0.73	AFISH
EQVA	- 0.71	AFISH
AZT	- 0.68	NORTH
AZT	- 0.63	AFISH
NORTH	- 0.63	MAS

Risk-Adjusted Indicators

There is a big difference between Ice Stock performing well and Ice Fish Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Ice Fish's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MAS	1.73	(0.21)	0.00	(0.53)	0.00	0.00	4.06	(4.05)	10.82
AFISH	3.22	0.56	0.12	(3.19)	2.88	(4.34)	8.57	(5.17)	20.80
IFISH	3.91	0.20	0.00	(0.17)	4.23	(5.29)	11.94	(7.52)	29.87
ELK	1.65	(0.19)	0.00	(0.35)	0.00	0.00	3.38	(3.71)	12.04
NO0010337629	0.12	0.00	(0.73)	0.00	0.16	(0.11)	0.25	(0.28)	0.72
IWS	1.19	(0.12)	0.00	(0.56)	0.00	0.00	3.00	(4.08)	15.36
VOW	5.72	(1.76)	0.00	(3.27)	0.00	0.00	7.78	(15.59)	66.61
NORTH	1.20	0.03	(0.05)	(0.24)	1.57	(1.44)	2.77	(3.57)	7.51
AZT	1.97	(0.46)	0.00	0.63	0.00	0.00	4.29	(4.71)	25.36
EQVA	2.93	0.13	0.00	0.04	0.00	0.00	6.03	(4.71)	26.86

Be your own money manager

Our tools can tell you how much better you can do entering a position in Ice Fish without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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